The Ruling on Taking a Loan from the Real Estate Development Fund
Machine translationRead the Arabic original
Question:
Shaykh, I have two questions. The first question is that I previously applied to the Real Estate Development Fund. Of course, I did not own any land at the time. With the help of one of the real estate offices, I took a sum of money and transferred one of the plots of land from his name to my name, and I applied to the Fund at that time. I did not know then that this transaction was forbidden. So I asked, and they said it is forbidden and so on, but I did not know. Now I own land. So, if my name comes up in the Real Estate Fund now, am I entitled to take the loan, or should I cancel it? Please, the Shaykh should answer.
Answer:
By Allah, my brother, the real estate loan has a system. If the system does not apply to you, and you took it or your name was listed while it did not apply to you, go back to the real estate office, the mortgage guarantee, and reach an understanding with them. Yes.
Shaykh, I have two questions. The first question is that I previously applied to the Real Estate Development Fund. Of course, I did not own any land at the time. With the help of one of the real estate offices, I took a sum of money and transferred one of the plots of land from his name to my name, and I applied to the Fund at that time. I did not know then that this transaction was forbidden. So I asked, and they said it is forbidden and so on, but I did not know. Now I own land. So, if my name comes up in the Real Estate Fund now, am I entitled to take the loan, or should I cancel it? Please, the Shaykh should answer.
Answer:
By Allah, my brother, the real estate loan has a system. If the system does not apply to you, and you took it or your name was listed while it did not apply to you, go back to the real estate office, the mortgage guarantee, and reach an understanding with them. Yes.
Source
قناة «العلامة الدكتور صالح الفوزان»، برنامج (فتاوى) (091) لمعالي الشيخ صالح الفوزان بتاريخ [1436-05-20] - كبار العلماء — youtube.com (27:06)
The Arabic text is a machine transcription of the audio recording.
